Following the creation of LIBERTY Steel Group’s Restructuring and Transformation Committee in May 2021 and the sustained progress achieved to date, GFG Alliance and the Restructuring and Transformation Committee have report further developments across the Group. Chief Restructuring Officer Mr Jeffrey S Stein said “We’re pleased to announce the restart of LIBERTY Steel USA’s Georgetown in South Carolina plant, further evidence of healthy market conditions and strong infrastructure spending across much of the globe. GFG Alliance’s international businesses are achieving excellent performance which is bolstering cash flow and boosting the Group’s refinancing efforts. Since our last update further organizational progress has been made to focus the group on its core businesses, cementing the foundations for a successful recovery”United States - LIBERTY Steel USA is to reopen its Georgetown in South Carolina rod mill as strong market conditions enable a sustainable restart following a period of care and maintenance during the Covid-19 pandemic. LIBERTY Steel Georgetown will resume production in mid-January, enabling 65 employees to return to work, as higher construction and infrastructure spending strengthens demand and the provision of Section 232 tariffs and quotas on steel reduces imports.UK - After a strategic review GFG Alliance announced in November that it will restructure LIBERTY Aluminium Technologies and divest it to Evtec Aluminium Ltd. The transaction will secure the future of more than 170 jobs and ensure that the Coventry and Kidderminster plants continue to supply LAT’s solid long-term customer base. However, as a result of the restructuring, LAT’s plant in Witham will close, and sadly this may result in approximately 64 people being made redundant.Europe - In Belgium, the Liège Commercial Court has validated the LIBERTY Liège transformation plan, which has also been approved by the business’s creditors. The plan presented by the management team is an important and positive step for the long term, sustainable future of the business and its employees. In Luxembourg, the management team at LIBERTY Dudelange has agreed with both its unions and the Government to undertake a technical restructuring to temporarily protect its employees while new sources of financing are put in place.On 8th November Mr Toker Ozcan was appointed as CEO, GREENSTEEL EMEA for LIBERTY Steel Group, as LIBERTY further strengthens its international management team to lead the global transition to GREENSTEEL. Mr Ozcan, who brings thirty years of experience in metals and mining, lastly as Chairman and CEO of Erdemir and Isdemir, will oversee GFG’s electric arc furnace operations in continental Europe, UK, and India, and also lead the Group’s downstream operations in continental Europe.
Following the creation of LIBERTY Steel Group’s Restructuring and Transformation Committee in May 2021 and the sustained progress achieved to date, GFG Alliance and the Restructuring and Transformation Committee have report further developments across the Group. Chief Restructuring Officer Mr Jeffrey S Stein said “We’re pleased to announce the restart of LIBERTY Steel USA’s Georgetown in South Carolina plant, further evidence of healthy market conditions and strong infrastructure spending across much of the globe. GFG Alliance’s international businesses are achieving excellent performance which is bolstering cash flow and boosting the Group’s refinancing efforts. Since our last update further organizational progress has been made to focus the group on its core businesses, cementing the foundations for a successful recovery”United States - LIBERTY Steel USA is to reopen its Georgetown in South Carolina rod mill as strong market conditions enable a sustainable restart following a period of care and maintenance during the Covid-19 pandemic. LIBERTY Steel Georgetown will resume production in mid-January, enabling 65 employees to return to work, as higher construction and infrastructure spending strengthens demand and the provision of Section 232 tariffs and quotas on steel reduces imports.UK - After a strategic review GFG Alliance announced in November that it will restructure LIBERTY Aluminium Technologies and divest it to Evtec Aluminium Ltd. The transaction will secure the future of more than 170 jobs and ensure that the Coventry and Kidderminster plants continue to supply LAT’s solid long-term customer base. However, as a result of the restructuring, LAT’s plant in Witham will close, and sadly this may result in approximately 64 people being made redundant.Europe - In Belgium, the Liège Commercial Court has validated the LIBERTY Liège transformation plan, which has also been approved by the business’s creditors. The plan presented by the management team is an important and positive step for the long term, sustainable future of the business and its employees. In Luxembourg, the management team at LIBERTY Dudelange has agreed with both its unions and the Government to undertake a technical restructuring to temporarily protect its employees while new sources of financing are put in place.On 8th November Mr Toker Ozcan was appointed as CEO, GREENSTEEL EMEA for LIBERTY Steel Group, as LIBERTY further strengthens its international management team to lead the global transition to GREENSTEEL. Mr Ozcan, who brings thirty years of experience in metals and mining, lastly as Chairman and CEO of Erdemir and Isdemir, will oversee GFG’s electric arc furnace operations in continental Europe, UK, and India, and also lead the Group’s downstream operations in continental Europe.
